Debt Collection and Recovery Africa
C. Bean & Associates
Unit 2 Stellenberg363 Pretoria Avenue, Randburg
Johannesburg
South Africa
+27 11 7898471
+27 11 7898475
Law Firm Overview
MISSION STATEMENTOur objective is to provide the most effective, cost efficient, prudent business solutions to debt recovery problems in Africa.
Christopher Bean & Associates, International Recoveries
What We Do
Business in Africa is invariably conducted in a different manner from that in Europe & the USA . Our network is composed of international lawyers, bankers, recovery agents and businessmen who are well versed in dealing with business problems in Africa and, therefore, have experience in and a fundamental understanding of that vital difference.
How We Do It
The team visits the debtor in the country where the debtor is located. In those cases (approx. 30%) where our powers of persuasion are inadequate, we have established our own network of proven legal correspondents (i.e.: attorneys, bailiffs and huissieers de justice) throughout the continent whom we instruct personally. By this we mean that we are personally/physically on the spot to assist the correspondent in achieving our goal which is the recovery of money or attachment of assets. We do not operate vicariously and that is why we are successful. We also don't have to break peoples' legs to achieve our goals.
Forensic Tracing / Criminal Debtors
We have an extensive knowledge of attachment procedures in most jurisdictions. Often the debtor in Africa has "nestegg" assets in Monaco, the UK, Switzerland or elsewhere in Europe. Therefore, if necessary, (and very often it is necessary) we are able to search for and, upon discovery, attach assets almost anywhere in the world. To this end we also make use of police agencies such as Scotland Yard, the FBI and Interpol.
Why We are Different and Better
The method of physical confrontation is far more effective than written or telephonic correspondence. Frequently, we find that a visit from one of our team is enough to find a solution. The solution often involves a debt repayment schedule, a barter, or a debt secured on a mortgage.
With our understanding of law in Africa - be it based on the French, Portuguese or English systems - we have set many precedents in the way in which we operate. For example, we were the first lawyers to have obtained and used a Mareva injunction (attachments) in Tanzania, Zambia and Ghana.
Our Fees
Our fee structure is simple, reasonable and fixed. The creditor, our client pays IRL a nonreturnable advance of between 10% and 15% of the value of the debt (debts in excess of $400,000.00 attract a lower deposit) The advance is used to cover travel, hotel and legal costs vital to achieve recovery. IRL then takes a further agreed percentage (usually the same as the initial commission) on whatever is recovered. This formula guarantees that the clients know the limitations of their costs of recovery and the client will also be aware that we are results driven.
We will not undertake any commission unless there is a strong prospect of a successful recovery.
